Report: Magic's Group To Buy Dodgers

[Tobywan]

Oh joy, rapture, hopefully this messy drama is behind them and Dodger fans can once again roam Dodger Stadium with happy hearts!

Btw, where's all the hoopla about the "bad precedent" this will cause in the "market" of "overpaying" for a sports franchise?

[love_that_reefer]

Btw, where's all the hoopla about the "bad precedent" this will cause in the "market" of "overpaying" for a sports franchise?

This is nothing like Yadier Molina, not even close.

[Tobywan]

Don’t put fucking words in my posts! I didn’t say anything about any fucking PLAYER!! This sale is more than double of any in MLB history and any other sale of a US team in any sport.

[love_that_reefer]

We all knew where you were talking about. Why else have the quotes?

[Tobywan]

If you or anyone else knew, then you are 100% percent WRONG! The quotes are the usual words and phrases when media spouts about driving the price up in any market, sports or otherwise. What the fuck does "where you were talking about" even mean? Go get stoned some more so you might be able to make sense and leave me the fuck alone.

[love_that_reefer]

Riiiiiiiiiiiiiiiiiiiight

[HollywoodLeo]

They're not cliche words the media makes up to sell a story, Toby. That's precisely how a market works. This sale won't drive prices up too much unless another owner tries to sell a franchise more valuable than the Dodgers (i don't think the Steinbrenners are selling anytime soon), but that doesn't eliminate the fundamental concepts of economics.

[Tobywan]

It most certainly is the verbiage used, perhaps we aren't watching the same media. It certainly was the case when the Glazers bought Manchester United that they had "overpaid" for them, was wondering why there wasn't more about the price other than it is now the record breaker. In reality, what is offered, negotiated and eventually settled on is more about what it is worth to the buyer NOT the market unlike what some other idiots seem to think. I am actually glad there isn't any of that surrounding this because it brings back a lot of hope for the orginization and fans and they don't need any talking head shitting on it.

Besides, this isn't really about anything I actually said, it's about someone's inflated ego falsely twisting what I said to be directed at some stupid shit he once said.

[love_that_reefer]

[HollywoodLeo]

Take an economics course and get back to me. You're arguing against the basic tenants of the open capitalist market here and it really is not a matter of opinion. It's like arguing that gravity pulls you away from the planet and not to it.

Of course a purchase is decided in negotiations between seller and buyer but what do you think goes on in those negotiations? If I'm Hank Steinbrenner and I'm looking to sell the Yankees you bet your ass I'm going to sell them for more than 2 billion since they are a more valuable franchise than one that just sold for 2 billion.

[HollywoodLeo]

That's not to say it's the only determining factor on what someone sells something for, of course. A seller could possibly be desperate and sell for less, but when a commodity sells for x price an owner of a similar commodity of greater value can sell his for more than x.

[realmofotalk]

I am actually glad there isn't any of that surrounding this because it brings back a lot of hope for the orginization and fans and they don't need any talking head shitting on it.

The economists are absolutely shitting on this deal. Then again, it beats me why people bother asking for economists' opinions when we all know that investing in a sports team is comparable to buying art, and economists don't value art.

[realmofotalk]

Former Dodgers bidder Steven Cohen faces SEC allegations - latimes.com

It is easy to say the Dodgers' new owners might have paid too much to buy the team, especially considering they did not buy out Frank McCourt.

But, if not for Guggenheim Baseball Management, the headline on this story might read: "Dodgers owner Steven Cohen faces SEC allegations." That, you might say, would put a bit of a damper on the pennant race.

Cohen, a Connecticut-based hedge fund king with a net worth estimated at $9.3 billion by Forbes, was a finalist in the Dodgers bidding. He had partnered with Patrick Soon-Shiong, a doctor, biotech investor and philanthropist who is generally regarded as the richest man in Los Angeles.

Major League Baseball owners approved Cohen as one of three finalists, and some people in the bidding process believed that he was the buyer preferred by MLB. Guggenheim substantially outbid Cohen and the other finalist, St. Louis Rams owner Stan Kroenke.

Thank God for the Jewggenheims.

[realmofotalk]

Guess who is buying Marseille's soccer team?
http://www.espnfc.com/french-ligue-1...-over-takeover

It had previously been reported that Luxembourg businessman Gerard Lopez and American investment fund Guggenheim Partners were the two frontrunners for a takeover.

That's right, he beat out the very group that he got his money from.